Women in STEM: 2017 Update

America's STEM workforce is crucial for generating new ideas, receiving and commercializing patents, and providing the flexibility and critical thinking required in the modern economy. While women continue to make gains across the broader economy, they remain underrepresented in STEM jobs and among STEM degree holders.

New Data Aids US Business Investment Decisions

The Department of Commerce's Assess Costs Everywhere tool (ACE) highlights the hidden costs and risks that manufacturers need to consider when deciding where to locate their operations or supply chains in the United States.

Taking the High Road

There is a wealth of evidence that manufacturing jobs are good jobs. But not all manufacturing jobs are created equal. Published data highlight the considerable variation in pay and productivity across manufacturing industries.

The Economics and Statistics Administration (ESA) releases 12 monthly and quarterly Principal Federal Economic Indicators collected by its constituent bureaus: the U.S. Census Bureau and the Bureau of Economic Analysis (BEA). Businesses rely heavily upon these indicators to make decisions every day. In their public comments, the Secretary and ESA's Under Secretary and Chief Economist put the indicators into a national and global economic context.

The American Community Survey (ACS) is an ongoing survey that provides data every year -- giving communities the current information they need to plan investments and services. Information from the survey generates data that help determine how more than $400 billion in federal and state funds are distributed each year.

In honor of National Apprenticeship Week, and to help businesses understand the benefits from apprenticeship, the U.S. Department of Commerce is releasing a beta version of a return-on-investment (ROI) calculator. Apprenticeships allows workers to learn skills on-the-job while earning a paycheck and graduating with an industry-recognized credential, and often an academic degree or credits as well. Registered apprenticeships have an 80-year history in the United States, dating from the National Apprenticeship Act. Since then apprenticeships have been focused on preparing workers for critical construction jobs in our economy. As outlined in the Executive Order Expanding Apprenticeships in America, our country needs to apply lessons learned from that tradition to develop skilled workers for many other sectors where apprenticeship is well suited but only in its infancy.

In March, the Office of the Chief Economist (OCE) released the first in a series of reports updating and expanding our previous work examining the science, technology, engineering, and math (STEM) workforce. That first report, "STEM Jobs: 2017 Update," provided an overview of STEM workers and their earning power. This second report provides a more detailed look at the gender dynamics of the STEM economy.

The latest economic figures released by the Commerce Department's Bureau of Economic Analysis (BEA) indicate that real Gross Domestic Product increased 2.6% (annual rate) in the second quarter, in line with expectations. This represents an acceleration over the previous two quarters, each of which saw growth of below 2%. The bulk of last quarter's growth was due to personal consumption expenditures which contributed 1.9 percentage points to this increase, while private nonresidential fixed investment contributed 0.6 percentage points, on the strength of business' investment in industrial and information processing equipment. The past two quarters have been the strongest for business investment since 2014. The other components of GDP contributed little to last quarter's growth: net exports (0.2 points), and government consumption and investment (0.1), and change in private inventories (0.0 points).

I am pleased and humbled to begin my tenure as Under Secretary for Economic Affairs at the U.S. Department of Commerce. Asked by Secretary Wilbur L. Ross and nominated by President Trump, I am deeply honored to help make America more competitive, serve my fellow Americans, and give back to our country, which has given so much to me.

The Bureau of Economic Analysis (BEA) promotes a better understanding of the U.S. economy by providing the most timely, relevant, and accurate economic accounts data in an objective and cost-effective manner. BEA produces economic accounts statistics that enable government and business decision-makers, researchers, and the American public to follow and understand the performance of the Nation's economy.

The Chief Economist is the Under Secretary's principal adviser on economic matters and serves as a special adviser to the Secretary of Commerce. The Office of the Chief Economist conducts analyses of policy proposals, monitors and interprets current economic developments; as well as analyzes major economic policy developments for use by senior officials throughout the Administration.

The Census Bureau's mission is to serve as the leading source of quality data about the nation's people and economy. We honor privacy, protect confidentiality, share our expertise globally, and conduct our work openly. We are guided on this mission by scientific objectivity, our strong and capable workforce, our devotion to research-based innovation, and our abiding commitment to our customers.

About the Economics & Statistics Administration

The Economics and Statistics Administration (ESA) plays three key roles within the Department of Commerce (DOC). ESA provides timely economic analysis, disseminates national economic indicators, and oversees the U.S. Census Bureau (Census) and the Bureau of Economic Analysis (BEA). In this latter role, ESA works closely with the leadership at BEA and Census on high priority management, budget, employment, and risk management issues, integrating the work of these agencies with the priorities and requirements of the Department of Commerce and other government entities.